"The Bail Out" Norm Home
Email me
Norm's Soapbox- My corner of Hyde Park

Why a Bail Out? The financial system is in such state now that even the Bush administration recognizes a problem which needs to be dealt with immediately. It has proposed buying the investments created by Bear Stearns and the like which threaten to bankrupt them, thereby bailing out the companies to continue making loans.

Bail is quite the correct term, for these criminally negligent or outright fraudulent companies have threatened the world economy. Would you give a drunk driver crashing his car a new car or a bus pass? Or buy the costume jewelry from a thief at gold prices when the fence will not? If your water company files for bankruptcy, it is taken over by the court, and it cannot continue to do what caused the problem.

Allowing the same people that profited from creating the problem to continue to make a profit would be criminal, and to bail them out to do so would be even more criminal and would invite another repeat (Savings and Loans?) and assure the world our system is dangerous. If a man that hands a bank teller a note and walks out with $5000.00 can spend years in jail, reason says these companies have forfeit any right to continue, and the government, to the dismay of all, must take over until it can find honest agents to do the job.

To buy the bad investments that no one else will so these companies can continue damns the taxpayer with buying trash at gold prices and insures it will happen again.

Copyright © 2008   Norman Montgomery; All rights reserved.